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Breaking: Federal Government Increases Petrol Price

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The Federal Government led by President Muhammadu Buhari has increased petrol pump price from N123.80 per litre to N143.80.

Naija News reports that the new petrol price was announced in a circular released by the Petroleum Products Pricing Regulatory Agency (PPPRA)  to marketers on Wednesday, June 1.

This online news platform understands that the circular by the Petroleum Products Pricing Regulatory Agency is coming after the agency had on May 31, 2020, announced a price band of N121.50 to N123.50 per litre for petrol.

The circular read “After a review of the prevailing market fundamentals in the month of June and considering marketers’ realistic operating costs, as much as practicable, we wish to advise a new PMS pump price band of N140.80-N143.80 per litre for the month of July 2020.

“All marketers are advised to operate within the indicative prices as advised by the PPPRA,” it added.

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